Deception Perception

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From financial-statement shenanigans to fraudulent billing schemes, corporate frauds can be elusive, to say the least. Fraudsters usually operate alone, rarely have criminal records, and are nearly as likely to be female as male. No wonder the typical case persists two full years. Finance executives would do well to be on the alert, though: accounting staff are the most likely offenders, according to an analysis by the Association of Certified Fraud Examiners of 959 recent frauds. Here are some fraud factoids from the report:

46% — Percentage of frauds detected by a tip20% — Percentage found by accident9% — Percentage discovered by external auditors